New Issue: Wachovia sells $9.4 million 0% notes inversely linked to basket of housing-related stocks

By Angela McDaniels

Seattle, Feb. 28 - Wachovia Corp. sold $9,383,500 of 0% enhanced-growth securities due Sept. 1, 2008 inversely linked to a basket of 13 companies in housing-related industries, according to a 424B5 filing with the Securities and Exchange Commission.

If the basket declines, the payout at maturity will be par plus the absolute value of the decline, multiplied by 1.28.

If the basket rises, investors will lose in inverse proportion to the gain, with a floor to the final payout of $9.00 per $10.00 note.

Issuer:	Wachovia Corp.
Issue:	Enhanced growth securities
Underlying stocks:	American Standard Cos. Inc., Countrywide Financial Corp., Ethan Allen Interiors Inc., The Home Depot Inc., Louisiana-Pacific Corp., Mohawk Industries Inc., Plum Creek Timber Co. Inc., The PMI Group Inc., Stanley Works, Temple-Inland Inc., Whirlpool Corp., Washington Mutual, Inc., Weyerhaeuser Co., all equally weighted
Amount:	$9,383,500
Maturity:	Sept. 1, 2008
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus 1.28 times any decline on index; payout will decrease in inverse proportion to any gain on the index, floor of $9.00 per note
Pricing date:	Feb. 27
Settlement date:	March 2
Underwriter:	Wachovia Securities

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